United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2006-11-14 monographic deposited born digital 26 p. GA 1.13:GAO-07-196T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-196T P0b002ee18037c92d f:d07196t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-07-196T machine generated eng fdlp REPORT GAOREPORTS-GAO-07-196T GAO-07-196T Crime prevention Crimes Data collection Federal/state relations Law enforcement Reporting requirements Business Business records Limited partnerships Testimony A63325 Companies, which are the basis of most commercial activities in market-based economies, may be used for illicit as well as legitimate purposes. Because companies can be used to hide activities such as money laundering, some states have been criticized for requiring too little information about companies when they are formed, especially concerning owners. This testimony draws on GAO's April 2006 report Company Formations: Minimal Ownership Information Is Collected and Available (GAO-06-376), which addressed (1) the information states and other parties collect on companies, (2) law enforcement concerns about the role of companies in illicit activities and the information available on owners, and (3) the implications of collecting more ownership information. GAO surveyed all 50 states and the District of Columbia, reviewed state laws, and interviewed a variety of industry, law enforcement, and other government officials. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-196T/html/GAOREPORTS-GAO-07-196T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-196T/pdf/GAOREPORTS-GAO-07-196T.pdf GAO-07-196T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-196T Testimony GAO-07-196T; Company Formations: Minimal Ownership Information Is Collected and Available; Crime prevention Crimes Data collection Federal/state relations Law enforcement Reporting requirements Business Business records Limited partnerships Volume 115 Page 272 115 Stat. 272